RIOT about to break within 3-4daysHello everyone, this is my first analysis of RIOT,
I'm not an experience trader, but i want to share you my idea.
Based on my analysis prediction, from the photo i believe that we are about to have a bull run after a breakout that should happen within 3-days from now.
Get in around $1.32-1.42, cause this is currently our main support.
>>first resistance lvl is $1.55,
>>and 2nd resist lvl is $1.64.
I could be wrong, but feel free to comment your suggestions.
Thanks,
AznMessiah
RIOT trade ideas
Ready to turn a corner?After being faked out a few times on the way down (as is typical of this stock) the charts seem to be revealing a possible direction.This looks like it could very well be ready to rally. As you can see, there seems to be a pretty well defined triangle that looks to be morphing into a bullish channel. If we take a look we can see that a firm looking double bottom has developed along with a 5 to 6 month diversion between price and RSI. There is also a fledgeling MACD bull cross taking place at the same time. Not too sure about an initial target but somewhere above the the 200 ma is not out of the question IMHO. Note there are open gaps up to the $3.50 area. Good luck!
BUY RIOT: Almost 6:1 Reward/Risk!Here's my idea to go long-on RIOT. This is a daily chart.
First, I always need 4 independent reasons to take a trade. They are as follows ...
1. Location
- Is the price in the correct location? In general, I price must be in the bottom of a range for a long, and at the top of a range for a short. Fib levels are good for this.
2. Market Structure
- Is there a double bottom with a breakout? I need to see a 'W' like structure in price.
3. Momentum
- Is there a divergence in MACD? This is one sign that a reversal in trend is around the corner.
4. Volume
- This is paramount. I need to see a bullish trend in volume if I am going long, and vice versa for short positions.
So, do we have our 4 reasons for RIOT?
We have ...
1. Location:
- We are slightly below a reload zone, around the 0.886 level. This is a good area for a reversal; we are near the bottom of a range
- We have a 'd' shaped Volume Profile, meaning most volume has been traded at the bottom of the range. This tells us that there is plenty of upward room for price to be discovered.
2. Market Structure: We see a double bottom with a breakout ('W') on the other side of the bearish, red trendline.
3. Momentum: We have MACD divergence.
4. Volume: Bullish; uptrend
Now, I only take trades where the minimum reward-to-risk ratio is 2:1. The 'W' gives us a nice framework for when to exit (stop loss) our trade. I am risking to the lower leg of the 'W'.
For our target profit, I just extend the R/R tool so 2:1 and see if that is a reasonable area to expect the price to go.
Is it reasonable, in this case?
Well, if we follow Gann's 50% rule, we can reasonably expect price to retrace up to 50% of its previous high.
With this, we have a R/R of 5.44. Sweet!
That's it. There are your 4 reasons to take this trade :)
Riot blockchain investments offers better odds than BlackjackIf you have some spare cash and are willing to gain 1000% at the risk of losing 100%, Riot is a good place to put it, it is purely a gamble and must be treated as such, it is so speculative only a small percentage of your capital should be risked in something like this.
SHORT INTEREST 30%
COMPANY PROFILE
Riot Blockchain, Inc. engages in the provision of investment services to the blockchain ecosystem as well as manufacturing in-vitro substances. Its portfolio includes Verady, Coinsquare, and Tesspay. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.